Tripartite system needs “radical overhaul”, report says

The Financial Services Authority (FSA) could be scrapped entirely under a Conservative government, if the recommendations of a new report are adopted. Financial expert Sir James Sassoon proposed a radical


Barclays sees upturn for stocks and shares Isas

Almost half of Barclays Stockbrokers' Investment Isa customers have filled their full allowances so far this financial year, the firm has said. Data from the tax-free savings accounts provider also found


Global recession predicted by IMF boss

The global economy will suffer negative growth in 2009, according to new analysis from the head of the International Monetary Fund (IMF). Speaking at a conference in Tanzania, Dominique Strauss-Kahn indicated


Job loss, economy worries top consumer ‘fear list’

Consumers' financial fears for 2009 have been ranked by a new poll from Edward Jones. The financial services firm said that 27 per cent of Britons felt that their biggest worry was job loss - while the


Prices of convertible bonds ‘attractive’

Convertible bonds are currently attractively priced after big sell-offs among investors, F&C Asset Management have found. According to the investments firm, convertibles lost 30 per cent of their value


Market turbulence ‘leads to retirement fears’

British savers are putting off their retirement - due to concerns over the health of their private pension pots. Prudential revealed yesterday that 2.2 million over-45s in the UK who are due to retire


Brown calls for international cooperation to beat crunch

Gordon Brown has called for nations to work together to fix the financial system, as part of his speech to the US Congress. The prime minister also had strong words for those who favoured protectionism


Investment firms ‘charging less than before’

Management fees and other charges from investment companies cost less than they did last year, according to an industry body. The Association of Investment Companies (AIC) said that the Total Expense Ratio


Unemployment to rise as shops plot staff cuts

Job losses are set to continue in the retail sector, due to the continuing economic malaise. According to the Confederation of British Industry (CBI), 49 per cent more retailers have cut staff, rather


FSA announces reforms of bonuses

Principles on executive pay at banks have been proposed by the Financial Services Authority (FSA). In an update this morning, the City regulator said that bonuses should be linked to profits and that staff